Mitsubishi UFJ Trust & Banking Corp Sells 322,709 Shares of American Tower Corporation $AMT

Mitsubishi UFJ Trust & Banking Corp lowered its position in American Tower Corporation (NYSE:AMT) by 46.4% in the 2nd quarter, Holdings Channel reports. The fund owned 373,311 shares of the real estate investment trust’s stock after selling 322,709 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in American Tower were worth $82,509,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of American Tower by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after buying an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Deutsche Bank AG lifted its position in American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after acquiring an additional 285,195 shares during the period. Dimensional Fund Advisors LP lifted its position in American Tower by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after acquiring an additional 88,120 shares during the period. Finally, Invesco Ltd. boosted its stake in American Tower by 0.5% during the first quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock worth $1,299,445,000 after acquiring an additional 30,130 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 2.9%

Shares of NYSE:AMT opened at $184.88 on Wednesday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a market cap of $86.57 billion, a P/E ratio of 29.53, a PEG ratio of 1.08 and a beta of 0.85. The stock’s fifty day moving average price is $189.19 and its 200-day moving average price is $206.06.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.7%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Buying and Selling

In other news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMT shares. The Goldman Sachs Group lowered their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.11.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.